Courtesy of Gurjeet Nagra
Fraser Valley real estate sales dip in August; prices hold steady
$553,500 apartment UP 2.5% year-to-year
$1,534,500 detached UP 1.6% year-to-year
6,291 ACTIVE LISTINGS
$846,200 townhouse UP 0.9% year-to-year
BENCHMARK PRICES
apartment 1,311 839 townhouse
detached 2,477
1,273 SOLD LISTINGS
4.9 MONTHS OF INVENTORY
2,622 NEW LISTINGS
20.2% SALES TO ACTIVE LISTING RATIO
BC, SEPTEMBER 5, 2023 - The Fraser Valley Real Estate Board recorded 1,273 sales on its Multiple Listing Service (MLS ® ) in August 2023. New listings dropped to 2,622 in August. Active listings have been rising since last December and grew again in August by 1.5 per cent to 6,291. “Many buyers are in “watchful waiting” mode as they hold off on decisions in anticipation of potential further rate changes,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board. “With prices relatively stable and active inventory on the rise, we hope to see more new listings come on stream over the next couple of months, especially if rates hold steady.”
“We expect to see market activity pick up heading into the fall months,” said FVREB CEO, Baldev Gill. “That said, with the uncertainty surrounding interest rates as well as the potential impact of provincial housing strategy initiatives, buyers and sellers would be well-advised to consult with a professional REALTOR ® to assess any risks and opportunities before making a decision.” At $1,534,500, the Benchmark price for an FVREB single-family detached home decreased 0.6 per cent compared to July 2023. At $846,200, the Benchmark price for an FVREB townhome decreased 0.5 per cent compared to July 2023. At $553,500, the Benchmark price for an FVREB apartment/condo decreased 0.4 per cent compared to July 2023. Statistics reflect market activity in August 2023 | Source: FVREB ® Fraser Valley Real Estate Board | Market values stated are of the benchmark of Fraser Valley and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.
The greatest compliment my clients can give me is the referral of family and friends!
Office: 604-670-0937 | Cell: 778-713-1086 www.gurjeetnagra.ca
Privacy Disclosure: We respect your privacy. The sponsor indicated on the front panel provides a complimentary subscription of this publication to you, a valued client. If at any time or for any reason you do not want to receive this publication, please contact the sponsor using any of the contact info on the front panel, and your personal information will be removed from the mailing list immediately. Without response to this cancellation offer, we assume your implied consent and permission to continue provision. Disclaimer: This publication is distributed for the purpose of information only. It is not intended to solicit buyers or sellers currently under contract by a real estate firm or under contract with another Broker or Mortgage Specialist, nor is it intended to cause or induce breach of any existing agreement. Distributed by: dmsmarketing.ca Copyright© 2023 All Rights Reserved / Printed on recyclable material. The trademarks REALTOR ® , REALTORS ® and the REALTOR ® logo are controlled by CREA and identify real estate professionals who are members of CREA.
Made with FlippingBook Annual report maker